What is Dogecoin?

Dogecoin (/ˈdoʊʒkɔɪn/ DOHZH-koyn, code: DOGE, symbol: Ð and D) is a cryptocurrency featuring a likeness of the Shiba Inu dog from the "Doge" Internet meme as its logo.Introduced as a "joke currency" on 6 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014.

Compared with other cryptocurrencies, Dogecoin had a fast initial coin production schedule: 100 billion coins were in circulation by mid-2015, with an additional 5.256 billion coins every year thereafter. As of 30 June 2015, the 100 billionth Dogecoin had been mined. While there are few mainstream commercial applications, the currency has gained traction as an Internet tipping system, in which social media users grant Dogecoin tips to other users for providing interesting or noteworthy content. Dogecoin is referred to as an altcoin.

Dogecoin was created by programmer Billy Markus from Portland, Oregon, who hoped to create a fun cryptocurrency that could reach a broader demographic than Bitcoin. In addition, he wanted to distance it from the controversial history of other coins.[8] At the same time, Jackson Palmer, a member of Adobe Systems' marketing department in Sydney, was encouraged on Twitter by a student at Front Range Community College to make the idea a reality